Tesla Bot: Elon Musk unveils humanoid robots; prototype aimed to 2022

The next project for billionaire Elon Musk? Humanoid robots.

The entrepreneur unveiled Tesla Bot on Thursday during an event touting advances in artificial intelligence.

According to a description on Tesla's website, the Tesla Bot was designed to perform physical tasks considered "unsafe, repetitive or boring."

"What is the economy? At the foundation it is labor," said Musk during the event. "So, what happens when there is no shortage of labor?"

The bot is 5 feet, 8 inches tall and weighs 125 pounds. It can carry up to 45 pounds and deadlift up to 150 pounds, according to a presentation about Tesla Bot. It can also move up to 5 miles per hour.

►Going the way of Tumblr:OnlyFans to ban sexually explicit content from platform

►Madden NFL 22 is here:These are the best football video games ever made

"At a mechanical level, at a physical level, you can run away from it – and most likely overpower it," Musk said to laughter during the presentation. The billionaire said he's aiming for a prototype to release next year.

Automation and robotics have been viewed as the future of labor, but many critics are concerned the shift could put jobs in danger.

Meanwhile, robots have become more advanced in their capabilities. Recently, Boston Dynamics showcased a humanoid robot capable of performing advanced moves like flips, turning and spinning.

Follow Brett Molina on Twitter: @brettmolina23.